Best Balance Transfers Discussion Area

[Deleted User]

BostonCeltic said:

Hi there, totally new here but need some help or guidence so i can stop being milked for interest via my bank Santander and get a Zero Credit Card paid off.

I currently pay £300 a month towards the only credit card i have (Santander Zero). The balance left right now is £3,938.32 but i am being charged roughly £50 - £70 interest as well per month so im just really not getting this sorted as quickly as i would like.

I had a look at transfers a few months ago and opted to try an M&S card, i was refused. I was shown to be 95% likely to be approved but was denied.

I then looked at a Barclays card and was approved stage 1 but when it came to confirming address with 2 pieces of documentation i fell short as my bank statements are registered to my parents home and my drivers license is registered to my London address. I had literally no other forms of viable proof as all bills etc go through my landlord so of course i was denied.

Ive had a look at others but also with these 2 denials my credit score is getting a kicking so my options are fewer now!!!

I pay all my car payments, phone bill and other direct debits on time ALL the time so im alittle annoyed that when im trying to sort my finances out its proving so hard to amend.

I just want to get the balance above transfered to a new CC with no interest for say...12 or 24 months or whatever and there be no fee for the transfer too ideally.

Can anyone help me on this please?

Firstly, ignore the fictitious credit score and don't apply for more credit.

Secondly, get your banking sorted - if you live in London, get your bank account changed to there (or get another current account). Do you not have mobile phone bill that you can use as proof for Barclays or anything else? What about your credit card statement? Why not sort that and try and continue with the application?

Thirdly, lenders look at your total debt and then judge if they would risk giving you more credit in case you run that up as well. The fact you have £4k of debt and some sort of car debt means you're a risk.

Wait 6 months and get your bills sorted and try for a sub-prime one while chucking all your spare cash at that debt

BostonCeltic

Deleted_User said:

Firstly, ignore the fictitious credit score and don't apply for more credit.

Secondly, get your banking sorted - if you live in London, get your bank account changed to there (or get another current account). Do you not have mobile phone bill that you can use as proof for Barclays or anything else? What about your credit card statement? Why not sort that and try and continue with the application?

Thirdly, lenders look at your total debt and then judge if they would risk giving you more credit in case you run that up as well. The fact you have £4k of debt and some sort of car debt means you're a risk.

Wait 6 months and get your bills sorted and try for a sub-prime one while chucking all your spare cash at that debt

Thanks for the reply.

All my everyday outgoings, so phone bill which is about £35, rent and my car which is on finance all get paid on time no problems there ever.

The credit card which is as you stated just under £4k now and going down per month by about £250 give or take but along with cheeky interest amounts is whats wounding me and what i need to get around.

I had spoken to Santander (my bank) and they couldnt offer or suggest anything but opting to shift this onto a new card elsewhere so interest wouldnt be taken for whatever that cards rules were...say 12months or 18months interest free.

My phone bills and banking both by Santander (everyday and credit card) are all registered at my folks home up in Linconshire as its really hard and tiresome/forgetful having to always change addresses when you move and i tend to move every 2 years or so for work purposes.

The Barclays card that i was approved for stage 1 and then rejected at stage 2 for address mismatch was about 3 or 4 months ago now i think.

[Deleted User]

I suspect your regular movement won't help matters (electoral register is a big part of stability for your credit history) nor will using multiple addresses. I would check with Barclays and see if they will accept some other proof of your ID like your car finance statements, RK address on the car, or anything else that goes to your current address - if that was all that was stopping you getting the card, starting there is not a bad idea, else you'll have to leave it a bit and try and get something in place at your current address

LizClem

Hi All,

I'm looking for a balance transfer card that my partner can sign up for that accepts balance transfers from other people's names/accounts. 

The 0% on my current spending card that we've been using for mutual purchases is very nearly up. We haven't quite paid it off yet. None of my partners 0% cards accept balance transfers from other people (taking on a partners debt).

I've been reading through the guides on the MSE site but nothing has come up on this subject yet.

We're in a very stable long term relationship, we live together, etc. It's both of our debt, but currently in my name. She earns very well, so it'll easily be paid off in the next 12 months. I recently lost my job due to the pandemic and I can't foresee I'll be accepted for a new credit card whilst currently unemployed.

It's all a bit crap timing, is all.

Thanks in advance.

[Deleted User]

Which of your partners cards have said no? Most cards will allow it to go through, particularly if done on line. If she's phoning them up, that's going to make it much more difficult.

LizClem

I rang one of my existing cards today asking what 0% balance transfer offer they wanted to give me and they jumped at the chance to give me another 16 months. So this has sorted itself out.

gozaimasu

Looks like the 20 months 0% HSBC with no fee has been pulled. Links from both MSE and Moneyfacts don't work plus it cannot be found by searching directly on HSBC website.

Dandytf

Existing Virgin Card more 0% balance+money transfers offers, until April.

gozaimasu

Dandytf said:

Existing Virgin Card more 0% balance+money transfers offers, until April.

Yeah, with 3.5% fee.

Dandytf

gozaimasu said:

Dandytf said:

Existing Virgin Card more 0% balance+money transfers offers, until April.

Yeah, with 3.5% fee.

Correct.
thanks